Chapter 2 Ethics - Concern for Ethical and Societal Issues...

Concern for Ethical and Societal Issues ⇒ Business Ethics- The standards of conduct and moral values governing actions and decisions in the work environment. o Social responsibility o Balance between what’s right and what’s profitable o Often no clear-cut choices. o Often shaped by the organization’s ethical climate ⇒ Sarbanes-Oxley Act - 2002 law that added oversight for the nation’s major companies and a special oversight board to regulate public accounting firms that audit the financial records of these corporations. The Contemporary Ethical Environment ⇒ High profile investigations and arrests in headlines. ⇒ Vast majority of businesses ethical. ⇒ New corporate officers charged with deterring wrongdoing and ensuring ethical standards. Individuals Make a Difference ⇒ Individuals can make the difference in ethical expectations and behavior o Putting own interest ahead of the organization. o

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